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Diploma full year pre-tax profits increased 4 percent

Staff Writer | November 21, 2016
Technical products supplier Diploma said full year pre-tax profits rose 4% to £54 million on thanks to a rise in revenue to £382.6 million from £333.8 million as acquisitions and currency movements provided a strong tailwind.
Diploma   The total dividend jumped 10%
The total dividend jumped 10% to 20p a share. Acquisitions completed during the year contributing £16.3m and currency movements boosting the revenues of overseas businesses when translated into sterling by £13.8m, when compared with last year, the company said.

"After adjusting for the contribution from acquisitions completed both this year and last year and for currency effects on translation, group revenues increased by 3% on an underlying basis," Diploma said.

"Steady underlying revenue growth of 4% in both the Life Sciences and Controls Sectors more than offset a weaker performance from the Seals Sector where underlying revenues increased by 1%."